Loan Comparison: 5.62% vs 6.5%
7503 Bentwater, Fountain, CO 80817 · 4bd/4ba · $450,000
List Price
$450,000
Assumable Rate
5.62%
Remaining Balance
$418,288
Equity Gap
$31,240
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$31,240
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.62% (VA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 5.62% + gap loan
$2,474/moAssumed loan: $2,407/mo
Gap financing: $67/mo
$228less per month with the assumable
Your Savings on This Property
7503 Bentwater, Fountain · 5.62% VA vs 6.5% conventional
$228
per month
$2,740
per year
$82,190
over 30 years
$81,718
interest saved
How gap financing works: The equity gap ($31,240) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($8,740 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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